Where a party to a contract has received the benefit of the other party's performance (here, transfer of shares) and has indicated by its conduct that it will not pay the balance, the other party is excused from performing a condition precedent to payment (here, tendering a third-party invoice) and may sue for the balance. A deed of compromise releasing claims 'arising out of or in any way connected with' employment does not extend to a separate share purchase contract between the same parties, even where the opportunity to acquire the shares arose from the employment relationship.
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